Dr. Scott Gottlieb on Finding Cures for Rare Diseases
Former FDA Commissioner Dr. Scott Gottlieb joins ‘Squawk Box’ to discuss the ongoing research and efforts at the FDA to find cures for rare diseases.…
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Congress should stay out of new bank rules on loan losses
(Original source Financial Times)
“As I was growing up, my Depression-era parents always preached the importance of having a rainy-day fund to deal with the economic hardships life inevitably throws at you, such as job loss or illness.
Later, as a bank regulator, I valued the similar funds banks set aside to cover losses they would invariably incur on some loans. Unfortunately, in the lead up to the 2008 financial crisis, those funds — called loan loss reserves — were woefully inadequate primarily because of accounting constraints that some bankers rightfully complained about at the time.
But now that accounting standard-setters are trying to improve those rules, industry lobbyists want Congress to help them preserve the status quo.”
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